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Financial & Banking

IFC Partners with Raiffeisen Bank to boost sustainable growth in Romania

Monday, November 20, 2023

To help diversify financial products for green and inclusive finance in Romania, IFC has invested €50.8 million in a bond issued by Raiffeisen Bank S.A. (RBRO), a member of the Raiffeisen banking group—the bank’s first EUR-denominated international bond issuance under its sustainability bond framework.   The proceeds from the bond will be used to finance climate projects, including loans and credit lines ...

Idea Bank Transforms Into Salt Bank, Romania’s First All-Digital Bank

Monday, November 20, 2023

  Idea Bank has announced that it will change its name to Salt Bank and become the first 100% digital bank in Romania, according to a statement. The Polish bank was acquired two years ago by Banca ...

Mastercard, Digital Payments Index: Cash, card at the POS and account-to-account transfer, top 3 payment methods for Romanians

Monday, November 20, 2023

Romanians rely on cash for most everyday purchases, but they also commonly use widespread digital payment solutions, such as contactless POS terminals. There is a significant potential to improve the degree of understanding by users of digital payments, the level of knowledge of Romanian consumers regarding digital payment methods scoring 55 points out of 100, according to the Digital Payments Index, a report developed by Mastercard, which analyzes the evolution digital ...

EBRD and Banca Transilvania support growth of e-commerce delivery services in Romania

Monday, November 13, 2023

Banca Transilvania lends €25.3 million to Romania’s Delivery Solutions S.A., which operates under the brand Sameday  Loan to support company’s medium-term investment plans and expand the Sameday easybox delivery locker infrastructure EBRD to cover 65 per cent ...

Alpha Bank Romania 9M 2023 financial results highlights

Monday, November 13, 2023

    Alpha Bank Romania continued its balanced and responsible strategy, with the financial results of the first 9 months reflecting the positive evolution of commercial activity and the commitment to supporting the Romanian economy:   The net loan portfolio grew 10.3% compared to the same period last year, a ...

Banca Transilvania closer to taking over OTP Bank’s Romanian subsidiary

Monday, November 13, 2023

Of the two bidders registered at the National Bank of Romania (BNR) to purchase OTP Bank Romania, it seems that Banca Transilvania is close to the ...

ARB: Romania-based banks did not increase cash transaction fees

Monday, November 13, 2023

Romania-based banks did not increase fees for cash transactions following the coming into force of the law that changes the ceilings for cash payments and receipts, the Romanian Banks Association (ARB) said after Monday's meeting with Prime Minister Marcel Ciolacu, pointing out that the banking system supports the growth of financial inclusion in Romania, which is currently the lowest among the European Union states, at just 69 percent, the ARB said in a ...

ASF: Private pensions market is largest of the three supervised

Monday, November 13, 2023

The private pensions market is the largest of the three markets supervised by the Financial Supervisory Authority (ASF), with an asset share of approximately 8.3% of GDP, said Dan Armeanu, vice-president of the Private Pension System Sector, on Tuesday."In the 15 years, the private pension system has grown from one period to another and has become the most important component of the non-banking financial system in Romania. The private pension market is the ...

 Exim Banca Romaneasca, one of key institutions for Romania's accession to the OECD 

Monday, November 13, 2023

Exim Banca Romaneasca is one of the key institutions supporting the process of Romania's accession to the Organization for Economic Co-operation and Development (OECD), a country project of similar significance to those related to EU and NATO membership, said the bank's executive chairman, Traian Halalai."Exim Banca Romaneasca has extensive experience in establishing common technical positions at EU level on financial instruments through which governments ...

Banca Transilvania posts three-quarter net profit of RON 1.86 bln

Monday, November 13, 2023

 Banca Transilvania Financial Group's three-quarter net consolidated profit amounted to over RON 2.291 billion, with the bank's profit standing at more than RON 1.859 billion.Retail and corporate loans over the reporting period were 4 percent higher year-over-year, and the balance of net loans and leasing receivables reached RON 72.6 billion, 6.75 percent higher compared to end-December 2022 and up by approximately 70 percent from three years ...

PayU GPO Romania: 46% of all processed transactions are made with a previously saved card

Monday, November 13, 2023

In the first 9 months of this year, PayU GPO Romania, the leader of local online payment market, registered a 25% increase in processed volumes, compared to the reference interval of 2022. From the point of view of the number of transactions it registered 18% more transactions than in the same period last year.   The volume of payments made through a single click has an accelerated pace of adoption among online consumers, ...

OTP's Romania unit swings to profit during Jan-Sept

Monday, November 13, 2023

Hungarian financial services group OTP said on Friday that the after-tax profit of its Romanian unit OTP Bank Romania totalled 18 billion Hungarian forints ($50.9 million/47.7 million euro) in the first nine months of the year, compared to a loss of 1 billion forints in the prior-year period, https://seenews.com/ ...

Just eight of 41 insurance companies active in Romania offering RCA services

Monday, November 13, 2023

 There are 41 insurance companies active in Romania, but only six of the licensed ones and two branches offer third-party liability car insurance (RCA), president of the Financial Studies Institute (ISF) and head of the Financial Supervision Authority's (ASF) Insurance Directorate-General Valentin Ionescu said on Thursday."Although there are 26 licensed insurance companies supervised by the ASF, given that we belong to the EU single market, we have ...

PKO Bank Polski Enters Romanian Market

Monday, November 6, 2023

PKO Bank Polski, Poland’s largest bank by assets, is set to begin its operations in Romania from early next year. The Polish banking giant’s entry into the Romanian market is driven by the record profitability rates of banks in Romania.   In Romania, PKO will exclusively work with corporate clients (SMEs and large companies). The bank will also facilitate financial operations for Polish companies and other ...

CEC Bank - TAROM partnership to be signed

Monday, November 6, 2023

CEC Bank is signing a partnership with TAROM, which will provide payment acceptance services for bank cards issued under the Visa and Mastercard logos, by taking over the settlement of card transactions carried out on international markets, which has so far been carried out by a bank outside Romania, the bank announced on Monday."Two traditional Romanian brands have decided to join hands to sign a partnership in the area of card transactions. Our bank is an important player, ...

BCR Group, net profit of 1.698 billion RON in first nine months

Monday, November 6, 2023

  BCR Group posted a net profit of 1.698 billion RON (343.8 million EUR) in the first nine months of this year, up 10.3% compared to the same period in 2022, on the back of improved operational performance underpinned by a higher volume in customer business, the bank announced on Monday.In the first nine months of 2022, BCR Group posted a net profit of 1.539 billion RON (312 million EUR).According to the bank, general administrative expenses amounted to ...

Intesa Sanpaolo expands into Romania with First Bank acquisition

Monday, November 6, 2023

Intesa Sanpaolo SpA has concluded negotiations for the acquisition of First Bank in Romania from the American investment fund J.C. Flowers, according to market sources. Some of First Bank’s employees have already been informed about this transaction through an internal communication.   Marco Elio Rottigni, Head of the International Subsidiary Banks Division at Intesa Sanpaolo, stated, “We welcome First Bank’s employees and customers to the ...

New loans granted by banks exceed 410 billion RON, January 2020 - August 2023

Monday, November 6, 2023

New corporate and retail loans granted by Romanian banks amounted to more than 410 billion RON, January 2020 to August 2023, which is equivalent to 29% of Romania's Gross Domestic Product (GDP) for 2022, the Romanian Banks Association (ARB) announced on Thursday.The volume of new loans granted to the population and companies in 3 years and 8 months since the start of the pandemic exceeds by 8.25% the balance of non-government credit recorded at the end of August 2023, of ...

CEC Bank and Exim Banca Romaneasca finance Pet Star Holding

Monday, November 6, 2023

  CEC Bank granted a financing of around 4 million euros to the Pet Star Holding company, one of the most important producers of PET preforms in Romania and the Balkan area, in terms of production volume and variety of formats.According to a statement from the bank, sent on Wednesday, the financing benefits from a state guarantee granted by Exim Banca Romaneasca within the state aid scheme in the context of the economic crisis generated by Russia's aggression ...

Fitch Places Romanian UniCredit Bank S.A.'s VR on RWP on Announced Merger

Monday, November 6, 2023

Fitch Ratings has placed Romanian UniCredit Bank S.A.'s (UCBRO) 'bb' Viability Rating (VR) on Rating Watch Positive (RWP). The bank's Long-Term Issuer Default Rating (IDR) has been affirmed at 'BBB' with a Stable Outlook.   The rating actions follow the announcement on 24 October 2023 by UniCredit S.p.A. (UC; BBB/Stable), majority shareholder of UCBRO, that it has reached an initial agreement to merge UCBRO with Alpha Bank Romania S.A. (ABR), owned by ...

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